Employee Retention Credit

The Employee Retention Credit (ERC) is a tax incentive designed to encourage businesses to keep their employees on payroll during challenging times, like the COVID-19 pandemic. It allows eligible employers to claim a refundable tax credit for a percentage of wages paid to employees, helping to reduce their tax burden. This credit supports businesses by providing financial relief, making it easier for them to retain staff and maintain operations during economic difficulties. The ERC aims to preserve jobs and stabilize the workforce during uncertain times.